Can NEIRO Price Bounce Back After Binance Listing Controversy?
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The recent listing of First Neiro on Ethereum (NEIRO) on Binance has caused unexpected disruption in the market. This development, which was initially expected to significantly boost the price of Neiro Ethereum (NEIROETH), ended up disappointing holders. About a week ago, Binance introduced Neiro Ethereum on its futures market, leading holders to anticipate a spot market listing, which they believed would boost the price. However, yesterday’s unexpected futures listing impacted the price negatively and affected holders’ profitability, leaving many surprised and frustrated. Sudden Binance Listing Shocks the Market On September 7, BeInCrypto reported that the price of Dogecoin-inspired Neiro Ethereum surged by 500% within seven days. This happened the same week Binance listed the meme coin in the futures market. However, on Monday, the exchange listed another NEIRO token. Before listing on the spot and futures market, the meme coin’s market cap was less than $20 million. A few hours later, the price of First Neiro on Ethereum jumped by 1000%. In contrast, the more recognized NEIROETH experienced a price crash, falling from $0.14 to $0.077. It’s also worth noting that the death of Kabosu and the introduction of a new Shiba Inu puppy with the trending meme coin name led to the launch of several Neiro tokens. Read more: How To Trade Crypto on Binance Futures: Everything You Need To Know Neiro Ethereum vs. First Neiro on Ethereum Price Chart. Source: TradingView As a result, it was not surprising that different tokens with similar tickers appeared on the same exchange. Following the price movement, Neiro Ethereum holders expressed frustration with Binance. Some even accused the exchange of tarnishing its reputation, according to comments shared on X (formerly Twitter). For example, crypto trader VikingXBTC criticized the listing decision, suggesting that there were other meme coins with greater market interest that could have been prioritized over Neiro-related ones. “The…
Filed under: News - @ September 17, 2024 10:21 pm